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15 January 2021, 19:42

New FEZ Vitebsk resident company to make special hydraulic press equipment

VITEBSK, 15 January (BelTA) – OOO Hydropress has been registered as a resident company of the free economic zone (FEZ) Vitebsk. The company intends to implement a project, which provides for developing the production of special hydraulic press equipment, FEZ Vitebsk administration representatives told BelTA.

The company operates in Polotsk and specializes in designing and making special hydraulic presses for general engineering enterprises, railway enterprises, and defense industry enterprises. Thanks to the preferences FEZ Vitebsk offers the company intends to renew its machine tools and buy new ones, including NC machine tools. It will allow OOO Hydropress to start making new products of proprietary designs for various branches of the manufacturing sector.

OOO Hydropress representatives explained that the new products will include equipment to make pipe fittings for the oil and gas industry using the molding method. The company will also offer a large hydroforming press, which is used for making the shell of spacecraft used by the space industry. Apart from that, more efforts will be poured into making equipment for recycling in field conditions 200-liter barrels previously used to store fuels and lubricants. The equipment is supposed to effectively resolve a serious ecological problem that plagues arctic areas. The project's implementation will allow the company to export all the products it makes. As a FEZ Vitebsk resident company OOO Hydropress will also be able to enjoy organizational support of the FEZ Vitebsk administration for promoting products onto new markets and for expanding the partner network.

OOO Hydropress is FEZ Vitebsk's second company that has been registered this year. The company intends to grow in a FEZ Vitebsk site in Polotsk. This location and a number of other ones were added to FEZ Vitebsk in August 2018. Eight resident companies with the total volume of declared investments in excess of $30 million have been registered in the new FEZ Vitebsk sites in Polotsk and Novopolotsk within less than 2.5 years.

A total of 55 investment projects involving investors from 15 countries, including Germany, Czechia, Russia, Poland, UK, USA, Israel, Cyprus, and Estonia, are being implemented in FEZ Vitebsk.

The free economic zone (FEZ) Vitebsk was established in 1999 and comprises 16 sectors with the total area of nearly 2,800ha. Seven sectors are located in Vitebsk, five in Orsha District, one in Vitebsk District, one in Polotsk District, one in Postavy District, and another one in Novopolotsk.

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